Short Interest in Mid Penn Bancorp, Inc. (NASDAQ:MPB) Rises By 18.6%

Mid Penn Bancorp, Inc. (NASDAQ:MPB) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 476,900 shares, a growth of 18.6% from the March 15th total of 402,100 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average trading volume of 82,000 shares, the days-to-cover ratio is presently 5.8 days.

Insider Buying and Selling at Mid Penn Bancorp

In other news, CEO Rory G. Ritrievi acquired 3,050 shares of Mid Penn Bancorp stock in a transaction that occurred on Monday, January 27th. The stock was bought at an average price of $30.05 per share, with a total value of $91,652.50. Following the completion of the purchase, the chief executive officer now owns 7,385 shares in the company, valued at approximately $221,919.25. The trade was a 70.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Soto Matthew G. De bought 2,575 shares of the stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $29.07 per share, for a total transaction of $74,855.25. Following the completion of the purchase, the director now directly owns 103,162 shares in the company, valued at approximately $2,998,919.34. This represents a 2.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 9,010 shares of company stock valued at $266,495 in the last 90 days. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Mid Penn Bancorp by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 350,375 shares of the financial services provider’s stock worth $10,454,000 after acquiring an additional 17,730 shares during the period. Rhumbline Advisers boosted its stake in Mid Penn Bancorp by 2.6% during the fourth quarter. Rhumbline Advisers now owns 24,386 shares of the financial services provider’s stock worth $703,000 after acquiring an additional 621 shares in the last quarter. Barclays PLC increased its stake in shares of Mid Penn Bancorp by 61.3% during the third quarter. Barclays PLC now owns 36,805 shares of the financial services provider’s stock valued at $1,098,000 after purchasing an additional 13,986 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Mid Penn Bancorp by 72.7% in the 3rd quarter. Jane Street Group LLC now owns 22,145 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 9,324 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Mid Penn Bancorp by 115.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 19,654 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 10,540 shares during the last quarter. 43.11% of the stock is owned by institutional investors.

Mid Penn Bancorp Price Performance

Shares of NASDAQ MPB traded up $0.65 during midday trading on Tuesday, hitting $25.82. 14,496 shares of the company’s stock were exchanged, compared to its average volume of 58,333. The business’s fifty day moving average price is $26.46 and its two-hundred day moving average price is $29.05. The company has a market cap of $499.77 million, a price-to-earnings ratio of 8.90 and a beta of 0.58. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. Mid Penn Bancorp has a 12-month low of $19.75 and a 12-month high of $33.87.

Mid Penn Bancorp (NASDAQ:MPB) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $0.71 EPS for the quarter, hitting analysts’ consensus estimates of $0.71. Mid Penn Bancorp had a net margin of 15.99% and a return on equity of 8.43%. As a group, research analysts forecast that Mid Penn Bancorp will post 3 EPS for the current fiscal year.

Mid Penn Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Friday, February 7th. Mid Penn Bancorp’s dividend payout ratio (DPR) is presently 27.59%.

Mid Penn Bancorp Company Profile

Mid Penn Bancorp, Inc operates as the bank holding company for Mid Penn Bank that provides commercial banking services to individuals, partnerships, non-profit organizations, and corporations. The company offers various time and demand deposit products, including checking accounts, savings accounts, clubs, money market deposit accounts, certificates of deposit, and individual retirement accounts.